JCBA Negotiations and updates for AA Fleet

[Tim Nelson]

IAMPF.  Here is the history.
 
2003:  IAMPF had to slash plan benefits by introducing a new B schedule for new participants.  This placed the plan back in the green.
2003-20011:   The plan continued to slip about 2% per year
2011:  IAMPF Trustees  had to juice the plan up again by wiping out Plan A which slashed its liabilities for future benefits. Plan became 108% funded again due to the sweat off the backs of most airline members.
2011-2015:  Plan continues to lose 2% funding % per year.
 
The last few years are as follows:
2013: 105%
2014: 103%
2015: 101%
 
The IAMPF will not allow the plan to get close to 80% so the only math that works is adding new members into the plan.
 
The current membership breakdown is as follows:
 
Total participants: 276,217
Active or current employees contributing: 97,288
 
The plan has been less successful with new employers which suggest that most of those who are active are aging and or close to retirement. It doesn't help that the IAM lost total membership again with its latest LM2. Admittedly, it was a lot less than prior but with the Boeing announcement, it looks like the total membership in the IAM will erode again next year. These are not trends that make me feel comfortable with the IAMPF, even though Boeing management refused to get into the IAMPF like most companies.
 
At this clip, the plan Trustees will have to make a 3rd cut in benefits quicker than the last time.  2003-2010 [although implementation wasn't until 2014].  The present math suggest a new cut announced in 5 years when the IAMPF breaches 90% funded status. Adding 10,000 TWU peeps into the plan will help juice it up again.
 
regards,

 

[700UW]

Just because you are in the IAM doesn't mean you are in the IAMPF.

 

[WeAAsles]

Just because you are in the IAM doesn't mean you are in the IAMPF.

In considering retirement contributions I've said it before and I'll say it again. If the Company and the Association agree to the same contributions that UAL Fleet members just secured. A 3% 401k match and the IAMPF at the rates UAL will now be contributing (Page 9) I'd say sign me up.

http://www.iam141.org/united/docs/040416IAM-UA%20Limited%20Issue%20TA%20Info%20Guide%20FSE.pdf

Any thoughts from people we haven't already heard from?

 

[Tim Nelson]

Just because you are in the IAM doesn't mean you are in the IAMPF.

that is true, while it is also true that members of other unions have arrangements to participate in the iampf. It will be interesting to see how it all works out for twu members. It should buy all of us iampf members more time if the iampf trustees can snatch them.

I liked Uniteds previous iampf language much better than their current contract and ours. it was just a flat 6.5%. Always better to have % than dollar figures because then the increases are built in. The dollar figures are advocated by management because management would rather pay all employees the same to cut cost. And the union trustees like it that was as well as it allows them to pocket more money from members who quit before they complete their 5th year.

Id be interested to hear from others who havent already spoken up about this. Especially would like to hear from twu members who didnt cut deals with iam peeps to advocate the iampf.

regards,

 

[700UW]

Pocket more money?

There you go again with the lies.

 

[Tim Nelson]

Pocket more money?
There you go again with the lies.

700, what do you mean, lies?
A member who quits his contributing employer prior to the 5 year vesting requirement is NOT entitled to ANY benefits. 70% of all employees quit before completing their 5th year. Does the money go to the employer or member? No. The iampf keeps all of it. I wasnt even complaining about this. Are you saying the iampf should change the covenants and entitle these to benefits?

regards,

 

[WeAAsles]

Pocket more money?

There you go again with the lies.

I'm assuming Tim was talking about me in this comment?

"Especially would like to hear from twu members who didnt cut deals with iam peeps to advocate the iampf"

Well I guess the cat's out of the bag? Forget the $1500.00 bottle of wine. I'm certainly not that cheap. I was able to secure "in writing" an agreement that once I could trick our TWU members into the plan, the Fund's administrators would purchase for me a new 2016 Mustang Convertible (It better be YELLOW guys) and a lifetime commitment to be placed in Schedule A rather than that pitiful Schedule B that Tim and everyone else will move forward with. 

I'll tell you, when I cut deals I don't kid around here. My services are high value baby.
 

 

[Kev3188]

Inclusive lunch and short hours ( aka Easy hours, aka Penalty hours) are huge, and should not be easily dismissed...

 

[WeAAsles]

700, what do you mean, lies?
A member who quits his contributing employer prior to the 5 year vesting requirement is NOT entitled to ANY benefits. 70% of all employees quit before completing their 5th year. Does the money go to the employer or member? No. The iampf keeps all of it. I wasnt even complaining about this. Are you saying the iampf should change the covenants and entitle these to benefits?

regards,

Q: Will TWU members receive credited service if TWU members choose to join the IAMNPF? 
A: Yes. The IAMNPF credits previous service in qualified plans toward vesting and early retirement options.

http://www.local591.com/index.cfm?zone=/unionactive/view_article.cfm&HomeID=292349

Oh lookie lookie what can be found "IN WRITING" when you search for it.

 

[WeAAsles]

Inclusive lunch and short hours ( aka Easy hours, aka Penalty hours) are huge, and should not be easily dismissed...

No one in those talks is easily dismissing anything. That much I do know.

 

[Tim Nelson]

Q: Will TWU members receive credited service if TWU members choose to join the IAMNPF? A: Yes. The IAMNPF credits previous service in qualified plans toward vesting and early retirement options.
http://www.local591.com/index.cfm?zone=/unionactive/view_article.cfm&HomeID=292349
Oh lookie lookie what can be found "IN WRITING" when you search for it.

Im sure they will do that but the truth remains, all of your twu members will not get full credit, only those on DOR.

You need to read better. No iam member at lus hired after 2003 received that auto vest, and none of your unborn will receive it either. Look, it really really helps me if you sucker your own twu into this fund that will need another juicer in 5 years to stay afloat so if yoour deal with the iam hoodwinks them then its better for the iampf.

regards,

 

[WeAAsles]

Im sure they will do that but the truth remains, all of your twu members will not get full credit, only those on DOR.
You need to read better. No iam member at lus hired after 2003 received that auto vest, and none of your unborn will receive it either. Look, it really really helps me if you sucker your own twu into this fund that will need another juicer in 5 years to stay afloat so if yoour deal with the iam hoodwinks them then its better for the iampf.
regards,

Again although your opinions on the issue are irrelevant unless you are part of the Company or the Union negotiating team, let me be as "SPECIFIC" as possible so just maybe you do not have to have this explained to you. Please pay careful attention now.

"IF" we can get the same deal that UAL members just got "I" (I means me or myself) WANT IT!!!! "I" WILL accept that deal.

"IF" it's offered as a "choice" for "ME" "I" will make up my mind as to what choice "I" will choose when the time comes and "ALL" of the details are laid out in front of me.

As for "YOU" you have NO choice. They will NOT let you out of it. Ah ah, no way, no how. Bank on it IMO. "YOU" better bulk up on that 401k of yours there you. They can't let you out. Someone has to continue to rows those oars. Keep rowing.

I hope I don't have to explain this to you next time with crayons?

And I hired on in 95. My assumption is those that hired on after 03 probably have more than the 11 years I have left and I was 30 when I accepted the job.

 

[ograc]

Good Point / Counter Point conversation on the important issues at hand. Hopefully, it leads those who follow this thread to reflect and consider. It leads to a more educated membership when considering JCBA negotiations. Staying away from personal attacks and other unrelated topics is very productive imo. 

 

[WeAAsles]

Good Point / Counter Point conversation on the important issues at hand. Hopefully, it leads those who follow this thread to reflect and consider. It leads to a more educated membership when considering JCBA negotiations. Staying away from personal attacks and other unrelated topics is very productive imo.

Certainly trying to my friend. But a particular individual does seem to want to paint a picture of me that is pretty far out there.

ograc how would you feel "IF" our negotiators were able to secure us all a deal like the one they just signed at UAL regarding the IAMPF and a 3% match to your 401k?

 

[Worldport]

Certainly trying to my friend. But a particular individual does seem to want to paint a picture of me that is pretty far out there.

ograc how would you feel "IF" our negotiators were able to secure us all a deal like the one they just signed at UAL regarding the IAMPF and a 3% match to your 401k?

Weaasles I'm more concerned about what they are discussing in the AMT thread. I don't want to rotate days off after 38 years. You worked at LGA what is the purpose?Why are some of the shifts fixed and some rotated? It has to cost the company more money to rotate